Ivor Callely
Ceist:49 Mr. Callely asked the Minister for Finance the total amount of unclaimed prize bond winnings; the use made of such moneys; and if he will make a statement on the matter. [11583/96]
Written Answers. - Unclaimed Prize Bond Winnings.
The total amount of prizes won in prize bond draws which remained unclaimed at end-April 1996 was approximately £508,000.
When such prizes are not claimed within the period of six months following the date of the draw, the money is transferred to a Post Office Savings Bank deposit account and is held in that account until such time as a claim is made. When a prize is eventually claimed, the interest which has accrued on the amount of the prize is paid to the winning bondholder.
Every prize winner is notified by post at the last address supplied to the Prize Bond Company. In addition, a list of bond numbers is displayed in post offices throughout the State. Nevertheless, difficulties in locating prize winners occasionally arise, especially in the case of old bonds.